The Tracxn monthly report for July 2021 details the state of the tech landscape in Sweden, highlighting $224 million invested across 14 funding rounds. Key players include Anocca, which raised $47 million in a Series B round, and Heart Aerospace, with $35 million in Series A. The report also identifies emerging business models and new investors like Danske Bank and Felix Capital, alongside trends in acquisitions and market activity.

1. TRACXN MONTHLY REPORT
JULY 2021
SWEDEN TECH

2. Sweden Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Contents
2
Sweden Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 7
Top Funded Business Models - last 1
year
8
New Analyst Picks 9
Acquisitions 11
Recent News 13

3. Sweden Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech Snapshot – July 2021
Sweden Tech: Snapshot – July 2021
Note : "Investors" refers to "Institutional Investors" only
3
$224M
14
Overall Geo Stats
10
11
40
13
17
Funding Rounds $ Invested Analyst Picks
Resolution Games
Upgraded to
MINICORN
New Investors
Danske Bank
Felix Capital
Series A+
rounds
Active Investors IPOs Acquisitions
Delta Projects#@
MM Sports#@
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Stockholm
(10 Rounds, $108M)
Gothenburg
(3 Rounds, $56.5M)
Sodertalje
(1 Rounds, $47M)
Lund
(1 Rounds, $4.6M)
$47M - Series B
Anocca (2014, Sodertalje, $47M)
$35M - Series A
Heart Aerospace (2018, Gothenburg,
$37.1M)
$34.8M - Series D
Doktor.se (2016, Stockholm, $157M)
$25M - Series C
Resolution Games (2015, Stockholm,
$38.5M)
Industrifonden
(3 Investments)
Bonnier Ventures
(2 Investments)
Inventure
(2 Investments)
Almi
(2 Investments)
Oncology
Anocca
Electric Vehicles
Heart Aerospace
Aerospace Tech
Healthcare Booking
Platforms
Doktor.se
Market Size
Companies Covered 6,104
Funded Companies 2,500
Total Funding $20.7B
Funding in last 12 months $9.0B
Top Exits
IPOs 214
Acquisitions 562
Company Stage
Unicorns 1
Soonicorns 31
Minicorns 172
Editor Picks 744
Series A+ 552
Series C+ 120
Acqui-Hires 1
Deadpooled 386
Top Cities
Stockholm (1,180 Rounds,
$16.5B)
Gothenburg (189 Rounds, $1.2B)
Top Investors
Almi Invest (286 Investments)
Sting (87 Investments)

4. Sweden Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Sweden Tech as of July 2021
Sweden Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (July 2021)*
Anocca
(2014, Sodertalje, $47.0M)
$47.0M - Series B Danske Bank
Heart Aerospace
(2018, Gothenburg, $37.1M)
$35.0M - Series A Breakthrough Energy
Doktor.se
(2016, Stockholm, $157M)
$34.8M - Series D Tencent
Resolution Games
(2015, Stockholm, $38.5M)
$25.0M - Series C Qualcomm Ventures
Juni
(2020, Gothenburg, $24.0M)
$21.5M - Series A DST Global
Insurello
(2016, Stockholm, $26.7M)
$17.7M - Series B Nordstjernan
Barnebys
(2011, Stockholm, $21.4M)
$9.7M - Series B
Logical Clocks
(2013, Stockholm, $7.3M)
$5.9M - Series A Inventure
Xenergic
(2017, Lund, $6.5M)
$4.6M - Series A
Umecrine Cognition
(2006, Solna, $7.3M)
$4.1M - Series A
Fast Travel Games
(2016, Stockholm, $6.1M)
$4.0M - Series B Brightly Ventures
*Shows only the lead Investors

5. Sweden Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (1/2)
List of Funding Rounds in Sweden Tech in July 2021
Sweden Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
LATE STAGE
$25.0M - Series C
Resolution Games (2015, Stockholm, $38.5M)
VR gaming development studio
Qualcomm Ventures, Bitkraft, Bonnier Ventures,
GV, Initial Capital, and 6 more
LATE STAGE
$34.8M - Series D
Doktor.se (2016, Stockholm, $156.7M)
Provider of an app for telehealth solutions
Tencent
EARLY STAGE
$3.0M - Series A
Limina (2014, Stockholm, $5.6M)
Provides investment management solutions
Industrifonden, Stoaf, Vidici Ventures, Almi, Justin
Wheatley
EARLY STAGE
$3.5M - Series B
Modus Therapeutics (2011, Stockholm,
$22.9M)
Developers of polysaccharide based drug for the
treatment of Sickle Cell Disease
EARLY STAGE
$3.5M - Series A
Starmony (2019, , $3.5M)
Developer of music creation software
Brightly Ventures, Bonnier Ventures, Acequia
Capital, MaxVIL, Almi, and 2 more
EARLY STAGE
$4.0M - Series B
Fast Travel Games (2016, Stockholm, $6.1M)
Provider of a VR game development studio
Brightly Ventures, Industrifonden, Creades, Inbox
Capital
EARLY STAGE
$4.1M - Series A
Umecrine Cognition (2006, Solna, $7.3M)
Developer of therapeutics for hepatic
encephalopathy
EARLY STAGE
$4.6M - Series A
Xenergic (2017, Lund, $6.5M)
Manufacturer of volatile memory chips
EARLY STAGE
$5.9M - Series A
Logical Clocks (2013, Stockholm, $7.3M)
Provider of a cloud-based data and compute
platform for artificial intelligence
Industrifonden, Inventure
EARLY STAGE
$9.7M - Series B
Barnebys (2011, Stockholm, $21.4M)
Online listing platform to search and buy new and
pre-owned arts & collectibles

6. Sweden Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (2/2)
List of Funding Rounds in Sweden Tech in July 2021
Sweden Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
6
EARLY STAGE
$17.7M - Series B
Insurello (2016, Stockholm, $26.7M)
Digital platform for customers to manage insurance
claims
Nordstjernan, Schibsted Media Group, Inventure
EARLY STAGE
$21.5M - Series A
Juni (2020, Gothenburg, $24.0M)
Financial management solution for marketing &
e-commerce businesses
DST Global, Felix Capital, Cherry Ventures
EARLY STAGE
$35.0M - Series A
Heart Aerospace (2018, Gothenburg, $37.1M)
Manufacturer of electric airplanes
Breakthrough Energy, Mesa Airlines, EQT
Ventures, Lowercarbon Capital
EARLY STAGE
$47.0M - Series B
Anocca (2014, Sodertalje, $47.0M)
Deevloper of personalized immunotherapeutics for
oncology, autoimmune and inflammatory diseases
Danske Bank, Michano, Mellby Gård, Nidoco
SEED STAGE
$2.2M - Seed
Greenely (2014, Stockholm, $6.9M)
Web and mobile-based building energy
management solutions
Silicon Valley Bank
SEED STAGE
$2.4M - Seed
StockRepublic (2019, Stockholm, $2.9M)
Financial management solutions for banks
Uequity, Main Incubator
SEED STAGE
Seed
Zenseact (2020, Gothenburg)
AI & Saas-enabled software platform offering
development of autonomous driving solutions

7. Sweden Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Investors
List of New Investors in Sweden Tech in July 2021
Sweden Tech: List of New Investors
7
Investor Company Info
Round
Amount
Round Name
Danske Bank
13 portfolio companies | Financial service provider
Anocca
Deevloper of personalized immunotherapeutics for oncology,
autoimmune and inflammatory diseases
$47.00M Series B
Felix Capital
72 portfolio companies | Tech focused early stage VC firm investing in
the US & Europe
Juni
Financial management solution for marketing & e-commerce
businesses
$21.50M Series A
Acequia Capital
48 portfolio companies | Seed & early stage tech focused VC firm
investing primarily in the US, Canada and Europe
Starmony
Developer of music creation software
$3.50M Series A
Breakthrough Energy
47 portfolio companies | Infrastructure fund focused on energy
investments
Heart Aerospace
Manufacturer of electric airplanes
$35.00M Series A
Main Incubator
29 portfolio companies | Early-stage tech-focused VC investment
company funding companies in Germany
StockRepublic
Financial management solutions for banks
$2.37M Seed
Lowercarbon Capital
8 portfolio companies | Venture capital fund focused on tech startups
Heart Aerospace
Manufacturer of electric airplanes
$35.00M Series A
Bitkraft
17 portfolio companies | Venture capital fund focused on multiple
sectors
Resolution Games
VR gaming development studio
$25.00M Series C
Mesa Airlines
1 portfolio companies | Limited information available
Heart Aerospace
Manufacturer of electric airplanes
$35.00M Series A
Nidoco
6 portfolio companies | Private equity firm investing in public & private
companies
Anocca
Deevloper of personalized immunotherapeutics for oncology,
autoimmune and inflammatory diseases
$47.00M Series B
Mellby Gård
1 portfolio companies | Mellby Gård | We take companies from
promising to leading
Anocca
Deevloper of personalized immunotherapeutics for oncology,
autoimmune and inflammatory diseases
$47.00M Series B

8. Sweden Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from
previous 1 year.
8
Rank Business Model $ Funding # Rounds Top Funding Round
1 ▲33 Lithium Ion Batteries $3.4B 2 Northvolt | $2.8B | Series D
2 ▼-1 Internet First Point of Sale Financing $2.3B 6 Klarna | $1.0B | Series H
3 -- Electric Car Manufacturers $550M 1 Polestar | $550M | Series D
4 ▲42 Music Licensing Marketplace $450M 1 Epidemic Sound | $450M | Series D
5 ▼-3 Web Based Platform for Doctor Consultation $413M 3 KRY | $317M | Series D
6 ▼-1 Open Banking API Providers $151M 2 Tink | $103M | Series D
7 ▲2 Autonomous Electric Truck Manufacturers $120M 2 Einride | $110M | Series B
8 ▲2 Self Driving Trucks $120M 2 Einride | $110M | Series B
9 ▲2 Self-Driving Ecommerce Delivery Vehicles $120M 2 Einride | $110M | Series B
10 -- Internet First P2P Personal Loans $115M 1 Lendify Sweden | $115M | Series D

9. Sweden Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (1/2)
Interesting Companies identified by Analysts in Sweden Tech in July 2021
Sweden Tech: Analyst Picks
9
Upgraded to MINICORN
Resolution Games (2015, Stockholm, $25.0M,
Series C)
VR gaming development studio
GP Bullhound, Colopl Next, Initial Capital and 13
other Investors
Upgraded to MINICORN
Fast Travel Games (2016, Stockholm, $4.0M,
Series B)
Provider of a VR game development studio
Heartcore Capital, Inbox Capital, Sunstone and 3
other Investors
Upgraded to MINICORN
Juni (2020, Gothenburg, $2.5M, Seed)
Financial management solution for marketing &
e-commerce businesses
Cherry Ventures, Jarno Vanhatapio, Johan Bendz
and 2 other Investors
Upgraded to MINICORN
Heart Aerospace (2018, Gothenburg, $2.1M,
Seed)
Manufacturer of electric airplanes
Breakthrough Energy, Y Combinator, Mesa Airlines
and 3 other Investors
Upgraded to MINICORN
Limina (2014, Stockholm, $1.4M, Seed)
Provides investment management solutions
Vidici Wheatley, Vidici Ventures, Justin Wheatley
and 4 other Investors
Upgraded to MINICORN
Xenergic (2017, Lund, $910K, Seed)
Manufacturer of volatile memory chips
Quinary Investment, Filip Larsson, Anders
Berglund and 3 other Investors
Added to Editor's Pick
Defentry (2015, Stockholm, Undisclosed, Seed)
Cybersecurity awareness training platform
John Fällström, Gerhard Dal, Jonas Brunius and 4
other Investors
Added to Editor's Pick
Starmony (2019, , $3.5M, Series A)
Developer of music creation software
MaxVIL, Bonnier Ventures, Jonas Siljemark and 5
other Investors
Added to Editor's Pick
Moligo Technologies (2019, Solna,
Undisclosed, Grant (prize money))
Developer of technology for enzymatic production
of DNA molecules
Colibri Ventures,EIT Healthand
Added to Editor's Pick
Zenseact (2020, Gothenburg, Undisclosed,
Seed)
AI & Saas-enabled software platform offering
development of autonomous driving solutions

10. Sweden Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (2/2)
Interesting Companies identified by Analysts in Sweden Tech in July 2021
Sweden Tech: Analyst Picks
10
Added to Editor's Pick
EstateLogs (2017, Stockholm, Unfunded)
Provider of maintenance management software for
owners and property managers
Added to Editor's Pick
upKeeper (2008, Umea, Unfunded)
Cloud based IT software assets management
software
Added to Editor's Pick
Starcounter (2014, Stockholm, Unfunded)
Provider of database IDE

11. Sweden Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Acquisitions (1/2)
List of Acquisitions in Sweden Tech in July 2021
Sweden Tech: Acquisitions
11
Acq.
Date
Company Acquirer Deal Size
01 Jul 2021
Delta Projects(2002, Stockholm)
Provides audience insights and real-time bidding
Azerion
02 Jul 2021
MM Sports(2002, Gothenburg)
Online retail store for fitness product
CapMan
06 Jul 2021
Lean Marine(2012, Gothenburg)
Provider of cloud-based fuel consumption and fleet analytics
software for marine vessels
Yara Marine
07 Jul 2021
Proant(2005, Umea)
Provider of embedded antenna systems
Abracon
07 Jul 2021
Strossle(2013, Stockholm, $8.1M)
AI-based content distribution optimization platform for
advertisers and publishers
Azerion
15 Jul 2021
Tritech(1991, Sundbyberg)
Provider of application development services
Addtech $5.2M
18 Jul 2021
Skanska Dagbladet(1994, Skane)
Online platform providing multi-category news
Gota Media
19 Jul 2021
Björn Lundén(1997, Nasviken)
Accounting software suite for businesses
Main Capital Partners
19 Jul 2021
Stunlock Studios(2010, Skovde)
Game development solutions provider
Tencent
22 Jul 2021
Veoneer(2018, Stockholm)
Tech-enabled vision based ADAS and autonomous vehicle
solutions
Magna $3800.0M

12. Sweden Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Acquisitions (2/2)
List of Acquisitions in Sweden Tech in July 2021
Sweden Tech: Acquisitions
12
Acq.
Date
Company Acquirer Deal Size
27 Jul 2021
APPRL(2010, Stockholm, $4.0M)
Provider of influencer & performance marketing solutions
Klarna

13. Sweden Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Recent News (1/2)
Recent News in Sweden Tech in July 2021
Sweden Tech:News
13
Exit News
.
● Visa to acquire Currencycloud Vending Market Watch
.
● Klarna acquires social shopping outfit Hero Finextra
.
● Infor Agrees to Sell its EAM Business to Hexagon AB and Form
Strategic Relationship IndianWeb2
.
● Destiny acquires Swedish UCaaS providers Telepo and Soluno
Telecompaper
.
● Enea acquires mobile networks’ security solutions provider,
AdaptiveMobile Security Telecom Operator News
.
● Azerion acquires Swedish advertising specialist Strossle Direct Commerce
Terms .
● Israel’s Simbionix Sold for $305 Million Jewish Business News
.
● PE-backed Abracon buys ProAnt PE Hub
.
People News
.
● Tink appoints former AWS sales lead as chief revenue officer Finextra
.
● Hootsuite Welcomes New SVP of Software Development, Manish
Kamra Hootsuite
.
● Safeture appoints Dolovski as new commercial director Telecompaper
● Skanska Appoints New Executive Vice President For Operations In
Hungary Property Magazine
.
● Lifesum Expands Health Advisory Board to Help Reverse Disease Using
Nutrition, Welcomes Forks Over Knives Star... PR Newswire
.
● Torqeedo Adds Global Services VP Trade Only Today
.
● Hinge Promotes Michelle Parsons to Chief Product Officer PR Newswire
.
● Truecaller Announces Helena Svancar and Annika Poutiainen as New
Board Members SMEStreet.in
.
Company News
.
● FDA nod for Albireo drug makes it the first for children with rare liver
disorder MedCity News
.
● FDA clears Natural Cycles birth control app for use with wearables
Engadget
.
● Karolinska Development’s portfolio company Promimic receives market
clearance for HAnano Surface in orthopedic... GlobeNewswire
.
Regulatory News
.
● Swedish watchdog to investigate Klarna for bank secrecy breach The Star
Online

14. Sweden Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Recent News (2/2)
Recent News in Sweden Tech in July 2021
Sweden Tech:News
14
● Klarna 'irresponsible' Instagram influencer campaign banned by UK ad
watchdog Mobile Marketing Magazine

15. Sweden Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Explore more on Tracxn
Explore more about Sweden Tech on Tracxn Platform
Sweden Tech: Explore more on Tracxn Platform
15
Companies
Recent Companies Covered
Funded Companies
Editor's Pick
Soonicorn Club
SaaS Companies in Sweden
AI Companies in Sweden
Fintech Companies Sweden
Consumer Digital in Sweden
Company Due Diligence
Detailed profile of Epidemic Sound
Competitors of
Cap Tables of
Investment Activity
Recent Investments
Investment Trend of last 10 years
Mega Investments Rounds
Investors
Most Active Investors
Most Active Angel Investors
Unicorn Investors
Exits
IPO'd Companies
Recent Acquisitions
Most Active Acquirers
Recent Acquihires
News & Events
Recent News
News on People
News on Unicorns
Upcoming Events
Library
Recent Reports
Tracxn Blog
Global Sector Landscape

16. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Any and all information either accessed from the website www.tracxn.com or having otherwise originated from Tracxn Technologies Private Limited including but not limited to the
information contained herein ("Data") is the sole property of Tracxn Technologies Private Limited (hereinafter "Tracxn"). You shall not recirculate, distribute, transmit, publish, or
sell the Data or any portion thereof in any form or by any means, either for commercial or non-commercial use, or permit any third party to use or distribute the Data or any portion
thereof; to any other party, except with the prior written consent of Tracxn. You may however incorporate insubstantial portions, extracts, abstracts or summaries from the Data
into analysis, presentations or tools for your customers or for your internal use, so long as Tracxn is clearly and visibly identified as the source of information.
For further information please refer to our Terms of Use at www.tracxn.com